Hello Rob, 
 
The handle is from bone or deer antler. And I agree with Jean and David the holes are pure decorative.  
Attached are a few Kojuk Mrenges hilts, the three on the left are ivory, the dark one is wood and the right bone or antler. 
 
Regards, 
Detlef
		 
		
		
		
			
		
		
		
		
		
		
		
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